Oil prices end at 5-week lows after Iran declares Strait of Hormuz open. How soon could they return to prewar levels?

The reopening of the Strait of Hormuz on Friday sent a wave of relief through oil markets, knocking crude prices down to their lowest levels since the early days of the U.S.-Iran conflict.

​The reopening of the Strait of Hormuz on Friday sent a wave of relief through oil markets, knocking crude prices down to their lowest levels since the early days of the U.S.-Iran conflict.